Commodity Prices

Gold •782 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,868.40	-20.80	-1.10%
WTI Crude •11 mins	84.28	-0.73	-0.86%
Gasoline •33 mins	3.290	+0.019	+0.59%
Ethanol •782 days	2.161	+0.000	+0.00%
Silver •782 days	30.82	+1.16	+3.92%

Silver • 782 days	30.82	+1.16	+3.92%
Copper • 782 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	91.42	-0.75	-0.81%
Natural Gas • 11 mins	2.741	-0.041	-1.47%
Heating Oil • 11 mins	4.298	+0.030	+0.71%

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Gold: Moving South?

By - May 27, 2014, 5:45 AM CDT

Gold has recently displayed a succession of small daily real bodies indicating a state of indecision. Monitor the support at 1284 (21/05/2014 low), as a break would confirm the underlying bearish structure. Another support lies at 1269. Resistances stand at 1304 (22/05/2014 high) and 1331.

Longer term, we are sceptical that the horizontal range between the strong support at 1181 (28/06/2013 low) and the major resistance at 1434 (30/08/2013 high) is a long-term bullish reversal pattern. As a result, a decline towards the low of this range is eventually favoured.

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